Apple may be the one Big Tech company getting AI right

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Welcome back to our Sunday edition. Happy Father’s Day to those celebrating.  

There are YouTubers, and then there’s MrBeast. While many aspire to make a little money from the platform, Jimmy Donaldson, aka MrBeast, makes a lot: Court documents reveal he expects to make $700 million in revenue this year.

Apple’s intelligence

Another week, another AI-focused tech event. First there was OpenAI’s spring update, then Google I/O, and then Microsoft Build. Last week, Apple joined the fray.

The tech giant’s WWDC event didn’t disappoint. CEO Tim Cook unveiled Apple Intelligence, a generative AI system partly powered by ChatGPT (for now). Wall Street cheered, making Apple the most valuable US company for a period. 

Some of the smartest minds in tech applauded Apple’s strategy. Why? 

For one, Apple is applying artificial intelligence to a narrower set of quotidian tasks. As Katie Notopoulos noted, it appears to be a kinder, gentler AI. (On the other hand, a whole bunch of startups have reason to be fearful.) 

Assuming Apple Intelligence works as intended, there will be even more reason to switch to or stay with Apple. It could also drive hardware upgrades and push revenue per user higher. 

It also emerged that Apple is not paying OpenAI for the ChatGPT integration. Apple gets the benefits for its users while OpenAI foots the bill for the computing costs. Apple also stressed the door is still open to working with Google, giving it leverage to play OpenAI and Google off against each other. It’s a power move that demonstrates Apple’s incredible reach. 

Add it all together, and, as Linette Lopez writes, Apple may be the one Big Tech company getting AI right.

Your manager is not your therapist

In a 2023 survey, nearly half of Gen Zers said they’re fine talking about mental health at the office. Managers have said their young employees have no qualms about openly discussing it.

There’s just one problem: A workplace overly focused on mental health isn't always a recipe for better mental-health outcomes. In fact, some researchers think talking about your struggles too much can actually make them worse.

What Gen Z gets wrong about the workplace.

More of this week’s top reads:

• Clarence Thomas raised him “as a son.” Now he's facing 25-plus years on weapons and drug charges.
• Millennium is backing Coatue star Aaron Weiner's new hedge fund.
• The age of geriatric millionaires is upon us.
• An overemployed Gen Zer describes the sacrifices of trying to reach FIRE status.
• All-powerful CEOs wrecked the tech industry. Here's who can save it.
• Meet 60 of the top angel investors who back B2B startups.
• A list of all the biggest cases and investigations on Elon Musk's docket.
• America's real geographic divide is between bosses and their employees.
• Inside Henrik Fisker's second failed automotive startup.

Curated by Matt Turner and edited by Jordan Parker Erb.

This is a shorter version of our flagship newsletter, which brings you in-depth analysis and summaries of the top stories from Wall Street to Silicon Valley.

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